Marketing in recession?… or just smart marketing

Read many articles and saw some presentations on ‘marketing in recession’. The essence of it all is that marketers have to be smarter while spending and use innovative and cost effective ways to reach out to their customers. There are many suggestions on how that is to be done and I wont get into that. Most of these blogs and slideshare ppts are right, the focus should be on innovation, creativity and cost efficiency. My question is this… why should that be during a recession only???

Even in a booming economy start ups fail and market shares change. Better product delivery, creative & cost effective communication and innovation in business management by competitors will create an improved overall customer experience… and customer loyalties will shift.

The key is to have strong business fundamentals, clear business vision and an enduring focus on achieving the goals outlined. A well defined long term business vision inspires efficient business management and complete costumer care, regardless the market conditions and creates an environment that is insulated from externalities such as the current recession. To think, this recession is also an outcome of consistent, systematic pursuit of short term goals by some of the largest institutions in the world.

Although, the impact of recession affects all businesses no matter how they are managed, it is minimal on businesses who have been doing smart things in innovative ways, even in good market conditions.

Continuous creation of real value, regardless of short term impact, is the only real sustainable business model.

Saurabh Shroff